AYEU.DE vs. IS3S.DE
AYEU.DE (iShares Smart City Infrastructure UCITS ETF USD (Acc)) and IS3S.DE (iShares Edge MSCI World Value Factor UCITS ETF) are both Global Equities funds from iShares - AYEU.DE tracks the STOXX Global Smart City Infrastructure Index while IS3S.DE tracks the MSCI World Enhanced Value. Both are passively managed. Over the past 5 years, AYEU.DE returned 9.09%/yr vs 17.35%/yr for IS3S.DE. A 0.79 correlation means they provide meaningful diversification when combined. AYEU.DE charges 0.40%/yr vs 0.30%/yr for IS3S.DE.
Performance
AYEU.DE vs. IS3S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYEU.DE achieves a 16.81% return, which is significantly lower than IS3S.DE's 34.60% return.
AYEU.DE
- 1D
- 1.09%
- 1M
- -3.25%
- 6M
- 16.81%
- YTD
- 16.81%
- 1Y
- 22.71%
- 3Y*
- 14.16%
- 5Y*
- 9.09%
- 10Y*
- —
IS3S.DE
- 1D
- 0.98%
- 1M
- -1.31%
- 6M
- 33.80%
- YTD
- 34.60%
- 1Y
- 60.20%
- 3Y*
- 25.59%
- 5Y*
- 17.35%
- 10Y*
- 12.85%
AYEU.DE vs. IS3S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYEU.DE iShares Smart City Infrastructure UCITS ETF USD (Acc) | 16.81% | 7.18% | 16.04% | 15.64% | -17.79% | 20.32% |
IS3S.DE iShares Edge MSCI World Value Factor UCITS ETF | 34.60% | 25.13% | 11.36% | 15.62% | -4.81% | 9.55% |
Correlation
The correlation between AYEU.DE and IS3S.DE is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.79 |
The correlation between AYEU.DE and IS3S.DE has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
AYEU.DE vs. IS3S.DE — Risk / Return Rank
AYEU.DE
IS3S.DE
AYEU.DE vs. IS3S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Smart City Infrastructure UCITS ETF USD (Acc) (AYEU.DE) and iShares Edge MSCI World Value Factor UCITS ETF (IS3S.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AYEU.DE | IS3S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.71 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 9.83 | -7.00 |
| Martin ratioReturn relative to average drawdown | 9.05 | 34.53 | -25.48 |
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Drawdowns
AYEU.DE vs. IS3S.DE - Drawdown Comparison
The maximum AYEU.DE drawdown since its inception was -22.12%, smaller than the maximum IS3S.DE drawdown of -35.19%. Use the drawdown chart below to compare losses from any high point for AYEU.DE and IS3S.DE.
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Drawdown Indicators
| AYEU.DE | IS3S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.12% | -35.19% | +13.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -6.09% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -17.78% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -17.78% | -4.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.19% | — |
Current DrawdownCurrent decline from peak | -3.25% | -2.80% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -6.29% | -6.93% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 1.74% | +0.76% |
Volatility
AYEU.DE vs. IS3S.DE - Volatility Comparison
The current volatility for iShares Smart City Infrastructure UCITS ETF USD (Acc) (AYEU.DE) is 5.11%, while iShares Edge MSCI World Value Factor UCITS ETF (IS3S.DE) has a volatility of 5.97%. This indicates that AYEU.DE experiences smaller price fluctuations and is considered to be less risky than IS3S.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYEU.DE | IS3S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.97% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 12.71% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.03% | 15.02% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 14.07% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.87% | 16.62% | -0.75% |
AYEU.DE vs. IS3S.DE - Expense Ratio Comparison
AYEU.DE has a 0.40% expense ratio, which is higher than IS3S.DE's 0.30% expense ratio.
Dividends
AYEU.DE vs. IS3S.DE - Dividend Comparison
Neither AYEU.DE nor IS3S.DE has paid dividends to shareholders.
Frequently Asked Questions
AYEU.DE and IS3S.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3S.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3S.DE is cheaper with a 0.30% expense ratio, compared with 0.40% for AYEU.DE.
AYEU.DE tracks STOXX Global Smart City Infrastructure Index, while IS3S.DE tracks MSCI World Enhanced Value. Their fees differ too: 0.40% for AYEU.DE and 0.30% for IS3S.DE.
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